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the presidential palace today. jim joins us now on the telephone. >> well, those tense of thousands of anti-government protesters who did the marching on the presidential palace were initially met by riot police who blocked off all approaches to the symbolic seat of power, the palace. these protester were calling loudly for an end to president morsi's decrees. we know they've given him near absolute power. they also call for a cancelling of that snap referendum that he's called for to ratify a draft constitution, which many critics here are saying favors egypt's islamists. at one point, the police were seen firing tear gas into the crowd, but that backfired when some protesters broke through police lines. police then dropped back, regrouped, and order soon returned. eventually morsi's motorcade was seen leaving the palace. then the police slowly left the area as well, leaving it to a lot of baffled protesters, wondering what to do. many of them went home at that point. maria, the opposition calmed this protest a last warning. it may give them a shot in the arm. they did look good tonight and looked li
-term contracts. the government is in support of energy independence in this country, so we don't think the taxes change for mlps and energy infrastructure investments. finally, if you like high-yield corporate bonds, we love high-yield municipal bonds where we're getting 6% federally tax free. corporate high yield has rallied too much. we've sold it. >> rick santelli, should we be focusing on something else? this constant focus on the fiscal cliff, obviously, it's been dictating sentiment. it's been dictating markets. are there other areas that investors should be looking at? >> well, i had a guest this morning, dr. saunders, who's testified on issues regarding housing, fha, in front of congress. he knows what he's talking about. he brought up what many of us are looking at. a lot of -- you know, real estate, residential construction was one of the positives in today's gdp report. we've seen a lot of positives in housing. but there's been a lot of legal ranging over a big group of foreclosures that looks like it's cleaned itself up. 2013 could see a lot of these dumped in the marketplace. i thin
for the economy. we can make the government use the taxpayers' money more efficiently, lock in some spending savings and do some long-term entitlement reforms to make sure americans feel like they can retire with dignity. >> i want to make sure we're talking about apples and apples here, which is so hard in this discussion. the $800 billion which the republicans put forward, which would be a cap on deductions, how does that compare with how far the information is prepared to go when it comes to raising revenue from capping deductions? >> we don't actually know what the republicans think they can do in that context yet, because they haven't told us how they would propose to raise the $800 billion. we don't know whose taxes would go up. we don't know the mixes of rates and limitations they would support. we think there's a good case as part of an agreement alongside a tax increase on the wealthiest 2% of americans. we think with that mix of rates and deductions, we can reach agreement on something that's very good for the country. >> do you have a number? is there a number that the administrat
are buying government bonds. foundations and endowments and pension funds are buying alternatives. individuals are buying bonds. rich individuals are buying jewelry, art, and trophy real estate. nobody is buying stocks in a big way right now. >> and yet morgan stanley for 2013 has come out with a more optist ism optimistic call for the s&p. what's the optimism? >> we think that in 2014 you can get $110. we put a 13 times multiple on that. it's about a 1340 closing price. you're looking at the end of 2013 at 2014 earnings. he is still looking for 2013 to be down. so we could have the market go down a little bit and you can actually, if you wait a little bit and buy in after the market has sold off, you might have a better than a 4%, 5% total return for next year. >> you still like dividend payers. you're sticking to the dividend payers like the pfizer, like the j&j, technology. does that argument change if dividend taxes go to 44 %? >> that's why you want to sit toward the front of the classroom. stay away from the low-dividend yield stocks. >> low dividends, not high dividends. >>
moving to a different inflation adjustment for social security and other government programs. they also talk about reform of medicare to include private sector competition with a traditional fee for service medicare plan. all of those are things that are within the zone of discussion that both -- between the two of the parties. now, president obama went on twitter this afternoon, took questions from the public to try to build pressure on republicans. he got one question from an average person saying, well, will my mortgage interest deduction be threatened by these fiscal cliff talks? and the president used that as a lever to say, that's why rates have to go up, because if they don't, they're going to sister to squeeze middle class deductions. that's the president trying to put pressure on. but i think now that we have offers on paper from both sides, there at least is a prospect we'll have more serious bargaining in the days ahead. >> yes. and that is good news. thank you so much, john harwood with the latest there. more now on the fiscal cliff. one of the industries with the most at st
Search Results 0 to 4 of about 5